Four Health Systems in One MOB: Anchor Purchases 40 Cross Street in Norwalk, Connecticut

Anchor Health Properties (Anchor) closed on the sale of Cross Street Medical Center, a 71,401-square-foot medical center in Norwalk, Connecticut. The medical office building is currently anchored by the Norwalk Surgery Center/Norwalk Hospital, St. Vincent’s MultiSpecialty Group, WestMed (formerly Norwalk Medical Group) and the Center for Advanced Pediatrics, complemented by a high-performing roster of private medical practices and diagnostic laboratories.

The center is very well known among the medical community and patients alike in the Norwalk area, making it an attractive asset.  Cross Street Medical Center has direct highway access, and is located right by Norwalk Hospital. The building’s tenants are some of the most well-established medical practices in the Franklin County.

With more than 100 physicians practicing in one building, Cross Street Medical Center is an exciting addition to Anchor Health Properties’ portfolio in the Fairfield County market. The city of Norwalk has a restriction on the development of new medical office buildings in the city’s hospital district.

Anchor competed with a number of other medical office investors for the building. “We’re very pleased to have acquired another best in class medical office building in New England,” said James Schmid, Anchor Chief Investment Officer. “We look forward to providing management services to the building tenants so they can best provide quality, patient-focused care to the Norwalk and lower Fairfield County community.”